Business expenses are categorized as either fixed or variable costs. You should identify your company’s fixed and variable expenses for accurate books. Learn the difference between fixed vs. variable costs to help with budgeting, pricing, and decision making.
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Expenses - Tips, Training, and News
A Guide to Start Buying Wholesale for Small Business
You know that spending less on business expenses like supplies and inventory can help you maximize your business’s profits. You can’t just eliminate those expenses; otherwise, you wouldn’t have anything to sell. But, you can possibly reduce how much you spend through wholesale buying. Wholesalers supply businesses with products in large quantities. Businesses that buy […]
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Accounting for Startup Costs (Plus How to Handle Taxes)
New businesses typically incur expenses before the business is up and running. You might need to research your market, hire a consultant, travel to potential suppliers, or open a facility. These are startup costs. When you incur startup costs, you must accurately record the corresponding ledger entries in your accounting books. And, you must properly […]
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5 Steps to Get on Track While Tracking Business Expenses and Income
As a small business owner, you are likely familiar with recording and keeping an eye on transactions. However, are you thoroughly monitoring business expenses and income? Learn the steps to take for tracking business expenses and income and the importance of tracking them below.
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Don’t Get in Over Your Head: Understanding Overhead Cost
Overhead costs are the ongoing expenses that support your business but don’t generate revenue.
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Electronic Funds Transfer Process: What to Know
As a business owner, you’re likely always on the hunt for ways to save time and money. Maybe you use basic accounting software to track incoming and outgoing money. Or, maybe you automate your email marketing with a tool that sends emails to your customers or vendors for you. If you love saving time and […]
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What Is an Expense Account?
Out of 400 survey respondents, 91% said they’d be more efficient if their workspace was organized. If you believe organization influences productivity, shouldn’t you better organize your accounting books?
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What Is a Cash Reserve?
According to a recent study, 60% of Americans don’t have enough money to cover an unexpected $1,000 expense. What about your business? Do you have enough money tucked away to deal with a sudden expense? If not, you need to give your cash reserve some love.
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Welcome to Your Go-to G&A Expenses Guide
Part of being a business owner is dealing with all kinds of expenses. One of the expenses you incur and manage are general and administrative (G&A) expenses. Never heard of G&A expenses? Need a brief refresher? Here’s the rundown on what is G&A and how it works in your business.
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The Pros and Cons of Buying vs. Leasing Commercial Property
While some businesses can start in a basement, garage, or kitchen, others require commercial property in the beginning. And, many companies outgrow their original location, so they need to look at commercial property. But, should you buy or lease property for your business? There are pros and cons to buying vs. leasing commercial property. Review […]
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